The Central Bank of Ireland faces scrutiny over its approval process for Israeli war bonds, especially following claims that funds are being used for harming civilians in Gaza. Despite intense questioning from members of the Oireachtas Finance Committee, the Central Bank insists it must legally approve bond prospectuses from non-EU nations like Israel, now seeking approvals post-Brexit. Governor Gabriel Makhlouf stated that it's not within the Central Bank's authority to impose sanctions without EU consensus, emphasizing adherence to financial regulations over international law considerations, particularly ahead of a critical renewal in September.
The Central Bank cannot impose sanctions on Israel...in circumstances where the EU has not imposed any such sanctions itself.
Ireland was a signatory to the Genocide Convention, which would enable the Central Bank to reject Israel's bond prospectuses.
Central Bank's approval for Israel trading bonds in the EU is due for renewal in September.
We will look extremely carefully at the facts that pertain at the time and we will make a judgment on it.
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